Josh Kushner, Bob Iger, buying Los Angeles Lakers for record $12.5bn

What the report says

Venture capitalist Josh Kushner and former Disney chief executive Bob Iger are set to buy the Los Angeles Lakers in a deal valued at $12.5bn, according to sources cited by Reuters in an Al Jazeera report published on 12 August 2026. If completed, it would be the highest valuation ever for a North American sports franchise. The deal still needs approval from the NBA’s board of governors and is subject to due diligence by Kushner’s investment vehicle, Thrive Eternal.

The reported sale follows billionaire Mark Walter’s purchase of a majority stake in the team last year, when the club was valued at $10bn. Al Jazeera said Walter’s wider financial empire has recently faced federal scrutiny, based on other reports, though the Lakers transaction itself is separate from that review. Walter is also the owner of the Los Angeles Dodgers.

In a statement quoted by Al Jazeera, Iger and Kushner said they were honored to take on stewardship of the franchise and described a long-term commitment to building on the legacy of former owners Jerry and Jeanie Buss. Lakers great Magic Johnson also publicly welcomed the move, saying Iger and Kushner would be good owners.

The reported ownership change comes as the Lakers go through a transition on the court after LeBron James left in the offseason. The article also noted that Iger previously led Disney, which had major ties to the NBA through ESPN, and that Kushner had recently been linked to a separate, ultimately shelved private equity proposal involving FIFA.